The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that they cannot afford them.
This brings us to two major misconceptions that we want to address today.
Whether you are selling your home, just purchased your first home or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return on Investment (ROI).
For the longest time, many experts doubted whether Millennials (ages 18-36) valued homeownership as part of their American Dream.
Looking at the latest statistics from the National Association of Realtors’ we can see that ‘Old Millennials’ (ages 25-36) are dominating the first-time homebuyer category.
So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. Oftentimes, agents make your offer contingent on a clean home inspection.
This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed.
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